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Business EconomyPosted at: Jan 27 2017 6:42PM


Gujarat quickly catching up as favourite start-up destination: EDII

Gandhinagar, Jan 27 (UNI) Entrepreneurship Development Institute of India (EDII), a prestigious national resource Institute for Entrepreneurship Education, Research, Training and Institution Building, today said that with it's friendly policies and being the first state to hold a dedicated summit for Start-ups, Gujarat was quickly emerging as a favourite destination for such ventures.
On the occasion of a media briefing in the institute about the success story of its unique two years PGDM in Business Entrepreneurship (PGDM-BE) programme, Director Sunil Shukla also said that the EDII was assisting the government of Gujarat and the Union government for policy framing and improvement with regard to the MSME sector.
Shukla said that Gujarat was quickly catching up as a favourite destination for start-up entrepreneurs. 'Gujarat has many friendly policies for the start-ups and it is the only state to hold a start-up summit (Vibrant Gujarat Start Up Summit). "No other state has organized such an event so far,' he said replying to a query about the state lacking in a robust eco-system for start ups like that in southern city of Bangalore.
To another question he said that it was not correct to think that one need be academically brilliant to be an outstanding entrepreneur. He said that the some of the academic in-competencies like those regarding knowledge of English can be bridged with basic courses. He also said that EDII focuses on SME's and creating more of an entrepreneur unlike the management institutes like IIM's which in his view focus on managerial skills meant for bigger corporate organizations.
He said that he agreed that the SME sector, especially the micro part of it needed assistance to come out of the difficulties it was facing. He said that the institute was assisting government of Gujarat and the Union government with regarding to policies, particularly about the clusters.
Talking about the PDGM-BE programme, Shukla said that it offers an innovative milestone-based learning initiative whereby every student can build their new enterprise step by step while studying at EDII itself. Out of 427 students who have passed out of EDII’s PGDM-BE programme since 2008-10 batch, around 337 have either started their own enterprise or have joined their family business. Only the remaining 20 per cent odd alumni of last several years have gone for a service career in the corporate sector or in academics and some for further studies.
“Milestone-based learning is introduced for students to enable them to get practical exposure to every minute step that is required to set up a new business even while they are pursuing their studies at EDII. Right from ideating, preparing a business plan, to how to form and register a new company and then how to start running this enterprise and managing various functions of marketing, finance, product/service development, etc. EDI also provides seed funding to successful milestone bonus point achievers for setting up their new venture," he said.
Dr. Satya Acharya, Associate Senior Faculty at EDII who heads the PGDM-BE programme added, “This course ensures that students harness their entrepreneurial knowledge, networking skills and abilities to set up own enterprise or join their family business to take it to newer heights. EDII also extends thorough mentoring support to help students start, progress and sustain a venture. With EDII’s own incubator CrAdle becoming functional from next month, students will have to additional option of pitching their start-up model here and may get selected. It is also to be noted that nearly half of the students who pass out of the PGDM-BE course go and join their family business. Here too there are many cases where the students start their own new business and do not join their family business.”
Some of the start-up entrepreneurs and alumni of the institute and current students also shared their experience on the occasion.
UNI RAJ JW SHK 1842
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